Dhaka: South Korean Ambassador Park Young-sik today reaffirmed his country’s commitment to deepening its ties with Bangladesh, highlighting the two nations’ 50-year relationship as a journey built on mutual trust, shared growth, and friendship. The ambassador delivered his remarks at the ‘Korean Investors’ CSR Activities and Future Together’ Seminar held at a city hotel.
According to Bangladesh Sangbad Sangstha, the seminar was organized jointly by the Korean Embassy, KOICA, and KOTRA. It brought together Korean investors, development agencies, NGOs, and representatives from the Bangladesh business community to showcase corporate social responsibility (CSR) initiatives and discuss prospects for future cooperation. Shahab Uddin Khan, President of the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI), attended the event as the chief guest.
Ambassador Park recalled Korea’s partnership with Bangladesh, dating back to the pioneering collaboration between Desh Garment and Daewoo Corporation in 1979, which laid the foundation for Bangladesh’s ready-made garment (RMG) industry. He noted the significant contributions of Korean companies to the rapid growth of Bangladesh’s RMG sector, which now accounts for more than 80 percent of the country’s exports.
The ambassador also highlighted the success of the Korean Export Processing Zone (KEPZ) in Chattogram, the first privately developed, country-specific EPZ in Bangladesh. He described it as a symbol of the enduring partnership, generating about USD 1.25 billion in exports and employing more than 70,000 workers. Beyond the RMG sector, Korea’s participation in Bangladesh’s infrastructure development was also emphasized.
Ambassador Park stated that since 1973, 144 Korean companies have participated in 257 infrastructure projects in Bangladesh with a cumulative value of USD 8.82 billion as of April 2025. He emphasized that Korean investors in Bangladesh have long set examples of responsible and sustainable business practices, with CSR activities reflecting a commitment to sustainable business practices that benefit society and the environment.
Focusing on future cooperation, Ambassador Park underlined the importance of ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries. He noted that Bangladesh remains a promising destination for South Korean investors, with its rapidly growing economy, strategic location, and abundant labor force.
The ambassador suggested that improvements in business conditions, such as timely visa processing, efficient customs clearance, tariff reduction, and flexible profit repatriation, would help realize the full investment potential. He pointed out that Bangladesh’s exports to Korea are rising but limited in range, and a bilateral CEPA could increase Bangladesh’s share in Korea’s market, especially in RMG items.
Ambassador Park reaffirmed Korea’s readiness to remain a key partner in infrastructure development and noted that Korean enterprises are known for quality delivery. He also mentioned Korea’s evolution from aid recipient to donor nation and expressed willingness to share development experiences with other developing countries.
Bangladesh is currently the third-largest recipient of Korea’s Official Development Assistance (ODA), covering sectors such as education, water and sanitation, health, public administration, and transportation. Through KOICA, Korea supports technical and vocational education to prepare Bangladesh’s workforce for future industrial demands.
Summing up the long-standing friendship, Ambassador Park stated that Korea does not pursue strategic interests beyond economic cooperation. He expressed optimism for the next phase of bilateral relations, marked by stronger economic engagement, sustainable growth, and shared prosperity. He thanked Korean investors and NGOs for their dedication to CSR and emphasized the continued building of a future of shared prosperity.